14,567 Shares in Blackstone Inc. (NYSE:BX) Bought by Conway Capital Management Inc.

Conway Capital Management Inc. purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,567 shares of the asset manager's stock, valued at approximately $2,231,000. Blackstone makes up approximately 1.1% of Conway Capital Management Inc.'s holdings, making the stock its 20th largest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sather Financial Group Inc boosted its stake in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager's stock worth $926,000 after buying an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new position in Blackstone in the 3rd quarter worth $201,000. Wealth Enhancement Advisory Services LLC boosted its position in Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager's stock valued at $53,455,000 after buying an additional 7,692 shares during the period. Aljian Capital Management LLC bought a new position in shares of Blackstone during the third quarter valued at about $1,951,000. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager's stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John G. Finley sold 42,249 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company's stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 2.3 %

Shares of BX stock traded up $4.21 during trading hours on Tuesday, hitting $189.56. 3,786,138 shares of the company's stock traded hands, compared to its average volume of 3,397,457. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $136.86 billion, a price-to-earnings ratio of 65.14, a PEG ratio of 1.59 and a beta of 1.51. The stock's fifty day simple moving average is $173.07 and its two-hundred day simple moving average is $147.64. Blackstone Inc. has a 12-month low of $112.09 and a 12-month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, analysts expect that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Monday, October 28th. This is an increase from Blackstone's previous quarterly dividend of $0.82. Blackstone's dividend payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BX. Morgan Stanley boosted their price objective on Blackstone from $164.00 to $177.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. The Goldman Sachs Group increased their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Piper Sandler downgraded shares of Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 price objective for the company. in a research note on Wednesday, October 9th. Citigroup boosted their price target on Blackstone from $157.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, Redburn Atlantic began coverage on Blackstone in a research report on Tuesday, August 27th. They issued a "neutral" rating and a $134.00 price objective on the stock. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and an average price target of $164.25.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.